London investor in Peloton and Goop raises third fund at $300m January 15, 2020 Venture capital firm Felix Capital has today revealed its third fund at $300m (£230.3m), targeting startups at both early and growth stages across London and beyond. The firm has previously invested in the likes of Deliveroo, Peloton and Mejuri, as well as Gwyneth Paltrow’s lifestyle brand Goop. The new fund is double that of its [...]
British tech startups beat £10bn funding to top global growth January 15, 2020 Investment into the UK’s burgeoning scene of tech startups grew more than anywhere else in the world last year, leaving previous records in the dust as investors sought private markets. Venture capital funding for UK tech firms reached £10.1bn in 2019, rising 44 per cent year on year and breaking the all-time high set two [...]
Visa to buy US fintech giant Plaid for $5.3bn January 13, 2020 Visa is to acquire US payments giant Plaid for $5.3bn, a software startup that is used by the likes of Venmo, Robinhood and Coinbase. Plaid, which helps companies connect to users’ bank accounts, was last valued at $2.65bn in a funding round in 2018. Visa and Mastercard were early investors in the tech company, which [...]
US officials provide UK with fresh data ahead of Huawei decision January 13, 2020 Senior US officials made a last-minute plea to Boris Johnson today to keep Huawei out of Britain’s telecoms network, warning that allowing the Chinese firm to remain involved would be “nothing short of madness”. A dossier was presented by a US delegation to the UK that officials told media outlets included new technical information that [...]
Tech confidence holds firm ahead of upcoming EU exit January 13, 2020 Confidence among British tech startups remained steady in the final quarter of 2019, as companies awaited the outcome of the General Election and stood firm ahead of the UK’s upcoming exit from the EU. Overall business confidence rose slightly, as 74 per cent of respondents to Studio Graphene’s Tech Tracker survey said they were confident [...]
String of London restaurants go paperless with City fintech startup Flux December 18, 2019 A number of London hot spots have taken a step towards going paperless, in a tie-up with digital receipts startup Flux. Flux has today signed partnership agreements with Japan Centre, Sakagura and Boparan Restaurant Group, which owns Giraffe, Ed’s Easy Diner and Slim Chickens. The deal means visitors who bank with Monzo or Starling, as [...]
London investors raise $34m fund aimed at increasing tech diversity December 11, 2019 A smorgasbord of investment giants have collaborated in backing a new fund focused on diversity, both in terms of the founders it backs and the customers those startups serve. Ada Ventures has today revealed a $34m (£27m) fund, with the British Business Bank’s (BBB) Enterprise Capital Funds’ programme as its cornerstone investor. The fund is [...]
HSBC signs global deal with City fintech startup Bud December 11, 2019 HSBC is to ramp up its efforts on Open Banking, following a global partnership agreement signed today with London fintech startup Bud. The banking giant took a significant stake in Bud earlier this year, after the startup helped HSBC launch mobile banking app Artha through its First Direct challenger brand. The deal will initially see [...]
London’s Basinghall Partners to unveil €100m Europe tech fund December 9, 2019 London-based Basinghall Partners has today revealed its first venture capital fund, targeted at European early-stage business-focused startups. The Basinghall Tech Fund I will close at €100m (£84m), having now reached its first close. The firm said it will cut cheques between €500,000 and €5m, highlighting those digitally disrupting “traditional industries”. “Over the last 20 years [...]
Google founders to step down as executives of parent firm Alphabet December 3, 2019 Larry Page and Sergey Brin, the two co-founders of Google, have announced their intention to step down as executives of parent firm Alphabet. The reins will be passed on to current Google chief Sundar Pichai, who will hold the role of chief executive at both Google and Alphabet going forward. “With Alphabet now well-established, and [...]
